there are three programs - PowerDVD, Arcsoft Total MediaTheatre, and a third one I can't remember the name for.
My advice to you is get a stand-alone Blu Ray player and HD TV. Learn from my experience, playing Blu-ray on a computer just isn't worth it.
What I did was a few months ago, I wanted to get PC Blu-ray playing done. So I went out and bought a decent BR Drive for 100 euro. I installed it into my machine, made sure I was running a DVI connection to a 1080p screen with a decent graphics card (Radeon HD 5770 for the record) and that I had an analog 7.1 sound system (two speakers in monitor plus 5.1 speakers).
The problem was that you have to pay for the program. With DVDs, you can use all sorts of free programs (VLC, Media Player Classic, Windows Media Player) but with BR, you have to pay about 50 to 60 dollars simply for the program, which to me is a slap in the face: I've already paid for everything else. The only reason the program costs money is because of Blu-ray DRM: it has to update every time a new movie is released (which is itself a problem, I've heard of thousands of stories of the programs not updating or of not updating correctly).
Ever hear of a DVD program doing the same thing? No? Same here. I tried cracked versions of the programs above, which didn't work - my Avatar Blu-ray played fine, but Heroes Season 1 didn't, kept having a distorted image.
So take my advice. Get a HD TV and a Blu-ray player, and don't fall into the same trap I did. Since you already have the drive, look up a guide for ripping the movie to a MKV file, and play that with VLC Media Player.